Brexit and GBPUSD - Which Way Now?
Posted on: 28 March 2017 , by: Pepperstone Support , category: Market Review
Brexit. It’s one of the most talked about market events in recent years. British PM Theresa May has indicated the UK will trigger Article 50 on March 29, launching an exit from the EU. Trading opportunities should be plentiful for the Pound, Euro and other currencies as this global event takes place.
The complacency that surrounds Brexit is a far cry from the stark warnings that filled the financial pages in the wake of Britain’s historic vote in June. At that time, most economists predicted the UK GDP could shrink as much as -6% and the country would be plunged into a deep recession as protectionist barriers and capital controls would destroy all possibility of economic growth. In reality, of course, UK saw the fastest growth of any G-7 nation in the post-Brexit vote time period as the economy continued to create jobs and generate growth far in excess of market expectations.
How will markets react to Theresa May’s decision? Download this exclusive report to view Market Expert Boris Schlossberg’s take on Brexit and its impact on markets.